PHOTOVOLTAICS: THE DOMINANT INVESTMENT TREND IN THE RENEWABLE ENERGY SECTOR
The production of electricity from Renewable Energy Sources, is now well established in our country. It is worth noting that Greece is ranked 3rd in Europe in terms of the percentage of electricity produced from Renewable Sources in Europe. The increased price of energy and the severe energy crisis indicate the immediate need for an increase in the total installed capacity from Renewable Sources.
In the previous year, photovoltaic systems were the leading Renewable Energy Sources in our country, where the total installed capacity exceeded 5,000 MWp, occupying about 85% of the total installed capacity from renewable energy sources.
The demand for natural gas in our country has also increased significantly, exceeding the price of 85 TWh, while new green investments are now largely focused on wind farms and biomass production plants, with the aim of substantially reducing CO2 prices, as the main source of its production comes from conventional fuels.
Finally, it is worth mentioning the California Effect, also known as the Duck Curve, as a major challenge in photovoltaic power generation. The phenomenon refers to the rapid decrease in electricity demand from the grid during the daytime – when the sunlight capacity is quite high – due to the increase in installed photovoltaic systems. The result of this is that the grid is putting both technological and economic pressure on the grid’s power plants to operate at reduced load during the day and to increase their capacity at times when there is no sunshine. This phenomenon is now observed in Greece and in many countries around the world, with governments being called upon to bring immediate solutions to make the most of the potential of photovoltaic systems.